2013-02-01
2013-02-09
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FBC 27
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English 27

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for the first time in four years and consumer confidence tanking as that payroll tax hike cuts into workers' paychecks. add it all up, is it time to strike calls for more tax hikes? down. i'm brenda buttner, this is "bulls & bears." we've got gary smith, tobin smith, jonas max ferris, and john layfield and susan fox. the white house and democratic leaders still pushing tax hikes. should they be? >> absolutely not, brenda. what i don't understand is how you can propose tax hikes without looking at what the scholars say, the studies say. look, if there was studies out there says raising taxes, great for the economy, i'd get behind it. but you know what, brenda? every single scholarly study for the past 15 years has said one thing: higher taxes, negatively impact growth. it's funny, forget all that, though. if you just look anecdotally, when the left wants to inhibit behavior, whether it's energy consumption or cigarette smoking or any one of the other things they have, what's the very first thing they do? they raise taxes! yet they say in this case, raising taxes is not going to affect econo

to be exact, rejecting or ignoring many proposals, including a plan to lower tax rates in order to broaden the overall tax base. the council's last official meeting one and one year ago. unemployment has dropped from more than 9 percent of the council's inception to the current rate of 78%, but more than 23 million americans remain of work or are stuck in part-time jobs , wanted full-time work for. meantime, we learned initial jobless claims rose to 360,000 last week, an unexpected jump of over 38,000 from the prior week's four year low. the obama economy seems stuck in neutral. recoveries fragile. yesterday the drop in gdp. tomorrow's january unemployment report expected to remain. critics said the president has not remained lazar focused on creating jobs, and the dissolution of the jobs council is just the latest example of that. fox news senior white house correspondent with our report. >> more than one year after his last meeting with the group, president obama is now eviewing the charter for is jobs council. the unemployment rate is falling a little more than a percentage point as the

for more tax increases. hollywood a-list or bruce willis: not those who would take away our guns offering a stern message for the president. and the nations biggest red state going after the biggest blue state all about drumming up business. we will show you how to score this battle in snakes "chalk talk." with an administration that avoids consequences of their public policy decisions. this time president obama asking congress to bail him out of the so-called defense sequester, nearly $500 billion cut in funding to our defense department that will cost thousands of jobs and undoubtedly weaken our national security. here is jay carney offering a bag and consuming answer as he tries to shift the responsibility for action from the president to congress. >> the president was clear he believes if we don't have the time or the are not inclined in the short term to accept the offer that he put forward that would resolve the sequester and then some with deficit reduction that we should at the very least take action for temporary buydown just as we did at the end of the year of the sequester to p

linda has a comment on the end of the payroll. this is not an increase in taxes. people and employers have had a 2% break-in social security taxes for the last two years. this at a time when social security fund could not afford it. a financial gift to the already employed at the expense of social security. technically right, but in your bed you hated it. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. and you know what, two years in the making almost. the man behind the disasters solyndra alone is stepping down. energy secretary steven chu offering his resignation today. he was highly criticized for its handling of the $528 million loan to the solar panel maker, which later went bankrupt. despite the blunder he is leaving with obama's support and his pride intact. he said, came with streams and leaving with a set of accomplishments that we should all be proud of. not all of his dreams came true. back in 2008 he famously said we as a nation needed to boost gas prices to levels -- levels seen in europe. although he eventually walked back those comments,

of spending cuts and tax reforms that would delay the economically damaging effects of a sequester for fear -- few more months. lou: headed in the right direction icaria statement considering that it contracted the last quarter, and as he is fond of doing, insisted that republicans give him something for the privilege of doing his bidding. he wants more revenue. tonight we focus on the economy, congressional budget office today not happen the president. as it predicted more fiscal and economic pain for the foreseeable future. projecting another 7 million people will lose their job based health insurance because of obamacare. the cbo director says high unemployment is here to stay. >> under current law we expect that the unemployment rate will remain above seven and a half% through next year. that would make 2014 that sixth year in a row that unemployment is so high, the longest such in 70 years. lou: today president of bollinger and at least part of his focus from sequestration and control the illegal immigration. again, the president not helped when democratic congressman john conyers toda

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remain with future tax with american interests. fox news correspondent with our report. >> based on time, ed distance. >> the redneck gets in on negative gone there in time. >> it takes hours to be able to respond. >> defense secretary panetta and chief dempsey said by the military could not do more to save the lives of about sitter christie's -- chris stevens and benghazi wants whatever 11th. >> in a the state's military is not and frankly not should be and then on one service capable of arriving on the scene within minutes to every possible contingency around the world >> republican senators were not satisfied. >> did you know, how long the attack would last? >> no idea is to make it last two days and never airplanes in the world before it was concluded? >> no senator. >> your responses are very inadequate and the same inadequacy for the security that you provided at the consulate. >> what did the president know and what he knew it. >> he did not asking about visibility what we could do? did you have further communications that night? >> no. >> did he call you that night to ask our th

nervously. >> we have massive deficits, a big tax increase that no apparent willingness to get government off people's backs by reducing government spending, and all of that is a heavy, heavy weight on the private sector. firms around the nation are sitting on cash instead of creating jobs. >> reporter: on wednesday the commerce department announced economic growth actually fell to a-10% the last three months of last year, the chairman of the president's council of economic advisers says other indicators remain positive. >> consumer spending increased. business investment. residential construction. >> reporter: the jobs report showed a larger number of people dropped out of the labour force than down jobs. a former administration economist says some of that is to be expected. >> the population is aging, so we expect to have a fir number of people retiring every month for the next ten years or more as the baby boomers retire. >> reporter: the conference board reports a sharp increase in the number of older workers considering delaying retirement, which could make it more difficult for youn

a law stopping the payroll taxes from going into the general fund. sometimes those guys just every pass. mark says the age for social security needs to be raised. that is the only way to solve it. finally, the lunchbox cops are targeting fried foods. cafeterias will no longer serve 100,000 workers fried chicken, concise, fried fish, and help these workers cope, the usda has hired a full-time dietitian on site. of course, we were paying for it is taxpayers. here is the best part. this whole plan is only for a few buildings. if workers want some french fries, they just have to walk a block to the energy department where the french writers are still bubbling. that is my "two cents more". that is all we have for tonight. we will see you back tomorrow. lou: good evening, everybody. the president today spending political capital by the bucket full. pushing hard for gun control. despite the fact that the murder rate in america has dropped to a 50 year low. he called for more and higher taxes, despite the fact federal spending is out of control. today, the dow jones industrial posted the is los

in the future. to pay tax increases are come more debt issue to pay for these compts that. is not why these kids can't get jobs today. the economy is terrible. it shrank. it is it growing the normal four or five percent and many of the graduates would have jobbings. >> and rich, the fact is, we are subsidizing. we are subsidizing the college degrees that often don't amount to good jobs. >> yeah, it is it unfortunate. we reached the point where technology changed the whole game in a way we are beginning to realize. on line universities and couple of them started by two stanford professors and world class education for free or near free . what are employers looking for? intelligence and drive and discipline . it used to be a college degree stood for those things and now they have faster and better ways to determine whether they want to hire someone. >> john, billions of dollars in government stub sidies for llege education are worthless? >> they are worthless and i a not going to defend them but what botherings me is it a notionful a job that requires a college degree. i don't care if you want to

$250,000 a year because you weren't going to get your taxes increased. guess what? you got a big fat tax increase. >> ben, go ahead. >> the worst thing that could have possibly happened in this country is to lose the constitution. that's worst than having these people covered by medicaid instead of by oak obamacare. losing the constitution is the crisis. >> we're not there yet. >> gary k, you know what? you have been staunchly opposed to this from the very beginning. i read your work. the unions are now, everyone is included. do you think this is where ben's right, that we're going in this direction, that we're going to lose the constitution? >> i don't know if you lose it whole, but i have to tell you there are pieces that are being thrown out the window right now. you know, i've been using three words, at what cost? all these programs at what cost? adam talked about 30 million people getting health care. terrific. at what cost? guess what? the unions who voted for this and backed it are realizing there is a cost, but all of a sudden no, we don't want the cost. and that's where the

property taxes, properties of all prices and places fascinate the next guest who expects the market to make a strong contribution to economic growth this year. joining us is dr. lawrence, senior vice president of research for the national association of realtors. good to have you with us. >> good evening. lou: this market looks like it's really recovering. give us a sense, as best you can, how strong it is nationwide. >> well, the strength of the recovery is much stronger than many people anticipated, and we are basically seeing the housing start up roughly 25% from one year before, and i think that for 2013, it could be a bigger increase because we are encountering some housing shortage. home sales running roughly 10% higher from one year before, and the inventory level came down to a 13-year low level, and because of the low draw down in inventory, one is seeing a consistent price increases, and these price increases have added $1 trillion to household wealth who are homeowners. lou: well, adding a trillion dollars, we still got a ways to go in this market to get us back to, well, pre-200

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